"Paramount Skydance CEO David Ellison has now made his pitch to buy Warner Bros. Discovery to that company's board and shareholders, as well as his own employees. Ellison pitched Paramount employees about his renewed offer to buy WBD in an email sent just after 3 p.m. ET on Monday. "We believe the combination of Paramount and Warner Bros. Discovery represents a powerful opportunity to strengthen both companies and the entertainment industry as a whole," Ellison wrote in the memo to staffers,"
"The Paramount CEO said he believes his all-cash, $30-per-share offer for all of WBD is superior to Netflix's $27.75 offer for WBD's streaming and studio assets, including the Warner Bros. film studio, HBO, and streamer HBO Max. Paramount made a so-called hostile bid for WBD on Monday morning, hoping to get investors on its side. Ellison is also trying to get his employees on board. He's selling them on a vision where a Paramount-WBD tie-up becomes a powerhouse capable of challenging Netflix and YouTube."
David Ellison, Paramount Skydance CEO, sent an email to Paramount employees after 3 p.m. ET renewing an all-cash, $30-per-share offer to buy Warner Bros. Discovery. Ellison argued a Paramount–WBD combination would strengthen both companies and the entertainment industry, and he positioned the deal as superior to Netflix's $27.75 proposal for WBD streaming and studio assets, including Warner Bros., HBO, and HBO Max. Paramount launched a hostile bid aimed at winning investor support and is appealing to employees with a vision of a combined company capable of challenging Netflix and YouTube. Ellison emphasized storytelling as a major American cultural and economic export.
Read at Business Insider
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